I really don’t even understand the term so I googled the diction term. HUMMM so how in the heck does this apply to the spending and what in the world does it mean for our area and market ?

1. Secretary of the Navy released a memo detailing immediate cuts, including a directive to “announce intent to cancel” all Blue Angels shows scheduled for April.So I guess no Airshows this year !
2. Across the fleet, thousands of sailors are unsure of when or even if they will deploy in the coming months.Great for families who don’t want to be apart but what are we going to do with all the people standing around ?
3. We could lose more than 12,000 jobs this year if sequestration is not halted, Old Dominion University economic researchers said.HOLY cow that is going to kill our regions economy !source
3.Economists said, It will cost the region more than $2 billion in spending. Nearly $1.9 billion of that is defense-related, the Economic Forecasting Project said.SourceRead here about the impact on Hampton Roads

If you find your self in a position that your gong to loose your home PLEASE do not wait till its to late. Lets not have a destroyed credit report or a foreclosure. I can help with a shortsale. Many banks are open to this more and more over taking the home. Lets talk !

se·ques·tra·tion
(skw-strshn, skw-)
n.
1. The act of sequestering; segregation.
2. Law
a. Seizure of property.
b. A writ authorizing seizure of property.
3. Chemistry The inhibition or prevention of normal ion behavior by combination with added materials, especially the prevention of metallic ion precipitation from solution by formation of a coordination compound with a phosphate.

* The number of residential homes listed for sale in the region has dropped 15.78% when compared to August 2011.
For the last 18 months this inventory has been shrinking. This is EXCELLENT NEWS and points to a stable market !

*The absorption rate (the average number of listings that have sold in the last 12 months) is currently 1599.92

*The region’s months’ supply of inventory is currently down to 7.04 months. A balanced market is said to be about 6 months supply

*Residential pending sales increased 23.28% in August 2012, when compared to August last year.

*Residential pending sales increased 23.28% in August 2012, when compared to August last year an increased 16.74%.

*The distressed homes market persists in showing signs of improvement based on August 2012
stats. Distressed homes, those that are bank-owned or short sales, accounted for 24.74% of all
residential active listings. Though this number is up slightly from last month, the overall number is down
by 1.27% since the beginning of the year. Distressed homes continue to account for less of the total
residential settled sales, measuring in at only 24.4% for August. This marks the 10th consecutive month
distressed homes have declined as a percentage of the residential settled sales.

Norfolk Va has a reason to celebrate. The Norfolk light rail is celebrating 1 year anniversary and a big success ?

I love being able to relax when going to downtown Norfolk. Its a lot better then driving and dealing with gas, traffic and parking.
Here is a blog about the Norfolk light rail wrote sometime ago. I LOVE THE NORFOLK LIGHT RAIL

Hampton Roads Transit figures shows the Newtown Road station is the busiest, accounting for 22% of daily ridership, followed by MacArthur Square’s stop with 16%. The least busy stops are York and Ingleside, according to the statistics.

Many of my clients are emailing me about this new law efective January 2013. Do you currently own a home and could possibly sell that home after 2013 ? There could be some new taxes that effect you. Its best to plan and be prepared for this. I would suggest you talk to a tax planner and financial advisor on how to handle this if you do plan to sell. NAR ( National Association of Realtors) has a great booklet that could answer some of the questions you have . Find the PDF booklet here

Beginning January 1, 2013, a new 3.8 percent tax on some investment income
will take eﬀ ect. Since this new tax will aﬀ ect some real estate transactions, it is
important for REALTORS® to clearly understand the tax and how it could impact
your clients. It’s a complicated tax, so you won’t be able to predict how it will
aﬀect every buyer or seller.

Another way of thinking about these new taxes is to think of the 3.8% tax as being imposed on a portion
of the money that you make on your money — your capital (sometimes referred to as “unearned income”).
h e 0.9% tax is imposed on a portion of the money you make on your labor — your salary, wages,
commission and similar income related to earning a livelihood.

Recently I have been getting emails from my clients asking what is going on with the “TAX” on home sales. I was extreamly concerend about it and at first just as worried as the rest. After I took some time to find the facts I do feel a little better. I still think it opens the door to people to grab more “cookies” from the cookie ja. For now I think the average homeowner here in hampton roads could be spared a massive tax. Here are the questions that will be answered at Realtor.com

Q-1: Is there a 3.8% real estate “sales tax” or a transfer tax created in health care bill?
Q-2: So who will be subject to the new tax? When is it effective?
Q-3: Who is a “High Income” Taxpayer?
Q-4: Are the $200,000 and $250,000 thresholds indexed for inflation?
Q-5: What is “unearned” net investment income?
Q-6: So the new tax will apply to rents from investment properties that I own?
Q-7: Does the tax apply to the yearly appreciation of an asset?
Q-8: How is the new 3.8% Medicare tax calculated?
Q-9: Give me an example.
Q-10: Will the $250,000/$500,000 exclusion on the sale of a principal residence continue to apply?
Q-11: Will the 3.8% tax apply to any part of the gain on the sale of a principal residence?
Q-12: Is rent from a vacation home subject to the 3.8% tax? And what about the gain on sale of a vacation or rental property?
Q-13: My rental property generates a net loss each year. How will those losses be factored into the new tax? And what if I have net capital losses when I sell?
Q-14: I earn all of my income from real estate investments that I own and operate myself. Will my rents and gains be subject to the new tax?
Q-15: Will “High Income Filers” lose any portion of the Mortgage Interest Deduction?
Q-16: Why is this new tax called a “Medicare tax?”
Q-17: How will this new tax affect marginal (the highest) tax rates when it is combined with existing law and with the possible expiration of the Bush tax cuts enacted in 2001?

Number of residential homes listed for sale fell 18.61% in June 2012 when compared to the same time last year.

All seven of the region’s major cities saw year-over-year decreases in active listings of 14% or more.

Lower inventory suggests a stabilizing real estate market.

Residential pending sales increased 12.73% when compared to June 2011.

11,376 contracts have been reported to the MLS. This is the highest number of contracts written during the same time period since 2007 when 13,483 contracts were reported.

Residential settled sales for the region dropped a slight 1.82% in June 2012 when compared to the same period in 2011.

The median sales price is up to $207,500, which is a 3.8% upswing when compared to $199,900 in June 2011.

Distressed homes accounted for 24.70% of all residential active listings, the lowest it’s been since October 2011 when they accounted for 24.29% of the listings.

Distressed homes comprised 28.81% of the region’s residential settled sales. Though up from 26.26% in May 2012, this is the second lowest percentage of distressed homes in the residential sales makeup since the numbers rose above 30% in October 2010.

Inventory
There is currently 7.44 months’ inventory of residential homes on the market in the Hampton Roads area, a decrease from last month (7.6) and down 25.53% from June last year.

truth in advertisements
I’m not sure what you hear in your area when it comes to agents running radio ads. In Hampton roads I hear several doing thier best to stand out from the crowd. I’m going to be honest with my self and with my feelings. Just putting it out there now so if I offend you I’m sorry.

1. Who verifies the claims of sales the quote (50/1)
2. How can they compare team results to individual results as one in the same ?
3 Who verifies the amount of money spent on advertising. Thm verses others how do they know ?
4. Who verifies client satisfaction
5 Who verifies tons of leads?
6 Who verifies more money, multiple offers, faster sale ?
I’m tired of hearing claims I feel are not 100% true. While I respect these agents I also feel the NOISE that is being made is hype. I’d love to hear ads on thier true accomplishment not a comparison on how Bad they think everyone else is while they are so great.

My claim to fame in this market is my experience, personal care and relationships I build through out the process. I’m never going to say I spend the most, do the most, and have the most. There is always someone better then me, you will never satisfy them all.
So agents hear my plea DROP the negative agent bashing ads and focus of your one accomplishment. No need to tell them your better then other agents. Your client will see it in the results.